Exploration firm Tullow Oil today said it had discovered a major new oil field in Africa.
In a statement this morning, the company said the Owo-1 exploration well off Ghana had intersected a significant column of light oil. It said tests had establish Owo-1 as a major new oil field and further appraisal was required.
The well is located about 6km to the west of the Tweneboa wells.
"Owo-1 has made a very substantial light oil discovery and continues the success of Tullow's Equatorial Atlantic exploration campaign in West Africa," said exporation director Angus McCoss.
"Given this success, we are immediately drilling an appraisal sidetrack to further assess the size of this find. Accelerated appraisal drilling will now focus on maturing the resources in both Owo and the adjacent Tweneboa accumulation towards commercialisation."
Tllow has a 49.5 per cent share in the Deepwater Tano licence and is partnered by Kosmos Energy Ghana, Anadarko Petroleum, Sabre Oil & Gas, and the Ghana National Petroleum Corporation.
